There’s been a lot of talk in the business world lately about sustainability. The term can be defined as the ability to continue performing a job or behavior indefinitely, and in the context of the business world, sustainability is one of the most critical keys to supporting long-term growth. It’s also especially important when it comes to managing personnel.
No matter how large or small a business is, it’s worth taking a moment to evaluate its operations to determine how to better sustain growth. Read on to find a foolproof four-step process for getting started.
Step One: Embrace Change
Achieving Operational Sustainability requires embracing modern technologies while simultaneously learning from the basic industry practices established in the past. When it comes to recruiting efforts, that means taking advantage of tools like social media and diverse digital platforms to get the message out.
Company leaders shouldn’t wait until it’s time to fill a high-ranking executive position to start leveraging new technologies. Instead, they should familiarize themselves with new tech now and start by recruiting ahead of the company’s actual need for low-level employees to stabilize hiring fluctuations. A company that has all the personnel required to keep operations running smoothly will be better able to sustain future growth.
Step Two: Identify and Implement Operational Efficiencies
Focusing on this aspect of operations can give company leaders an idea of how their operations are currently performing and encourage them to foster a healthier company culture. Start by performing an assessment of the company’s current internal culture, then implement simple practices that will increase transparency, respect, and competition.
When hiring new people and providing ongoing training for existing employees, make sure to provide clear job descriptions with defined goals. Monitor employees’ progress toward meeting those goals using weekly, monthly, or quarterly reports, and celebrate minor victories. These easy changes will improve employee morale and increase operational efficiency to promote more sustainable growth.
Step Three: Prioritize Company Culture
Preserving a positive company culture by prioritizing transparency and clear communication can help to improve employee retention rates, reducing churn. The company should have a fair compensation plan in place that rewards positive performance and helps employees manage expectations. That way, the company’s current employees will know what to expect and how to progress within its unique corporate ecosystem, allowing the whole organization to grow and thrive.
Step Four: Bring in New Business
This may seem obvious, but it’s worth pointing out. Companies that want to sustain operational growth must constantly bring in new business. Try to focus simultaneously on drawing in new leads and enhancing current customers’ lifetime value. This varied approach will help the company’s leaders even out growth and enhance sustainability.
It’s Time to Foster More Sustainable Growth
Every business owner and stakeholder wants to grow the company, but there are sustainable and unsustainable ways to go about managing growth. When it comes to personnel management, following the steps above is the best way to improve employee retention, integrate new hires into the company culture, and ensure that everyone is on the same page.
The result of implementing the actionable steps described above will be sustainable growth of a company that rewards success and invites clear, transparent communication from employees at all levels. Over time, the improvements in company culture will create an environment that is perfectly suited to sustaining ongoing growth.